CasinoCoin set for relaunch courtesy of the Double C Foundation

CasinoCoin set for relaunch courtesy of the Double C Foundation

A tool "accessible for both operators and ordinary players in the regulated gambling industry" very much the aim with CSC.

CasinoCoin (CSC) has been taken over and relaunched by the newly established Double C Foundation.

The non-profit organisation aims to bring CSC, the open source, peer-to-peer cryptocurrency designed specifically for the regulated online gambling industry, to a wider audience.

Speaking to TotallyGaming.com John Caldwell, director of advocacy for the foundation, said: “Ensuring that we work in close cooperation with regulators and operators has been a major focus in our relaunch of CasinoCoin; we believe it is the only way for cryptocurrency to achieve widespread appeal in regulated markets.

“The Foundation will help to promote the best use practices of CasinoCoin and cryptocurrency in general, and will be a crucial factor in helping to realise the coin’s potential.”

With new features and technology currently being developed, including built in KYC (know your customer), AML (anti-money laundering) and responsible gaming, the currency is aiming to take the lead in setting industry high best use practice standards.

The purpose of the foundation is to promote adoption and best use practises in commercial (regulated) gaming markets, and to help realise the continued optimal technological performance of the coin and its underlying blockchain.

Totally Gaming says: While cryptocurrency could be a step in the right direction, It will certainly be interesting to see the progression of CSC and the Double C Foundation going forward. If done successfully, this relaunch can bring the crypto coin to a much wider audience. A cryptocurrency specifically designed for the gambling industry could prove a smart move in protecting the market from fraud.